The value of reputation marketing
Reputation marketing is a quickly evolving component of marketing and is a direct result of the increasing relationships between brand marketing, reputation management and the influences of online and social media. It is indisputable that a company’s reputation and brand(s) can be immediately impacted by the world of online/Internet platforms, specifically social media platforms. From the organic ranking of negative content, review sites, and social assets, a brand can be positively or negatively propelled by direct consumer interaction. Given the power that consumers now wield over brands, it is critical that reputation marketing be proactively undertaken by companies and organizations.
Many disciplines are needed to effectively conduct reputation marketing, such as SEO, public relations, and social media. Because most companies do not have the internal resources to handle all of these components, they often seek to partner with an agency that can help them research, plan, implement, and measure reputation marketing by working in conjunction with other marketing efforts. It is important that companies obtain and retain a digital agency that has gained proven experience with each of these disciplines. Public relations, SEO, and social media must work with each other in order to achieve maximum impact.
Neilsen released a recent study that indicates that nearly 70% of today’s consumers rely on online reviews and personal recommendations prior to brand engagement. This is because consumers trust or believe what others say or recommend, as stated by the oft-cited “social proof” theory. Sites that utilize and offer reviews, such as Amazon or Yelp, have been shown to directly impact a brand’s performance. These relationships will only grow in their direct influence as consumers are empowered in the online space. Large and small businesses alike who ignore reputation marketing do so at their own peril in today’s marketplace. Conversely, companies who dedicate the necessary resources to this effort as part of a comprehensive marketing plan can reap big benefits.
Small businesses can especially be impacted by review sites and the like due to their dependence on a local customer base. It can be expensive for small businesses to actively engage in reputation marketing, but attention must be paid to what consumers are saying about you. It is equally important to understand how and when to respond.
Building a positive online reputation takes solid planning, thoughtful implementation, and careful measurement. All of these components must be integrated into a company’s overall marketing efforts. If you would like to learn more about how THAT! Company can help your business with its reputation marketing efforts, give us a call today. We will be glad to provide a complimentary consultation, whether you own a small business or are an executive with a huge conglomerate.